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UWM turns to seller concessions with new mortgage product launch

Housing Wire

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. Staying nimble in a fast-paced market with the right mortgage technology.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

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Home seller concessions reach pre-pandemic levels

Housing Wire

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. When the 30-year mortgage rate was around 3%, there was a higher demand for homes and such deals were not as popular.

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Seller Concessions on the Rise

Broke Agent Media

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

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Seller concessions: How a seller can pay your closing costs

The Mortgage Report

A seller concession is an agreement where the home seller pays the buyer's closing costs. Learn how seller concessions work here.

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What Are Seller Concessions? Here’s Why They’re a ‘Win-Win for Both Sides’

Realtor.com

One type of incentive that buyers—and sellers—can use is called seller concessions. Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees.

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UWM expands buydown options to combat high mortgage rates

Housing Wire

United Wholesale Mortgage (UWM) this week expanded its temporary rate buydown offerings amid higher interest rates and fierce competition. UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. After that, the full rate is paid for the remainder of the term.